The Board of Directors nominates the CEO and his/her possible deputy and decides on the CEO's terms of service, including base salary, fringe benefits, pension benefits and incentive schemes. The Remuneration Committee of the Board determines and approves the terms of service, including salaries, bonuses, pension benefits and other benefits, of the Outokumpu Leadership Team members other than the CEO.
The compensation of the CEO and the members of the Leadership Team consist of base salary, fringe benefits, short-term incentives, share-based long-term incentives and pension arrangements. The total compensation is reviewed regularly by the Board of Directors. The review includes benchmarking the different components of total remuneration to market practices in corresponding positions.
For 2022 Outokumpu will start considering a wider range of sustainability targets in its incentive programs, starting with CO2 emission reduction targets. Futher targets with regards to e.g., diversity will be worked out during 2022. Going forward, we will continue to review our remuneration arrangements to ensure they deliver on our goals for our shareholders and investors.
Updated March 4, 2022.